18 Dec
#eMini Trading Levels & SPY Anchored VWAP
Posted in Intraday Analysis by Bob English at 12:26:21 2 Comments11:25 am EDT: The ES broke through today’s value area bounded by 1093.75, and has now exceeded the 1090.00 target and lower end of the expected range. 1087.25 to 1087.75 contains weekly S1 and combined session S1, which longs need to support to keep the prospects for a rally next week alive. Another reason this level is critical is because SPY is at VWAP anchored from the Nov 2 low, which has supported price twice before.
sdg
on December 18 2009 at 18:43:58
Excellent observation on VWAP support on SPY daily.The russell index d-s1 coincided with the SPY support area and bounced 11.60 pts.
Bob English
on December 21 2009 at 12:33:33
Yes, I look at the reaction to pivots of the Russell, Nasdaq and to a lesser extent the Dow. Seasonality favors small caps (Russell) until at least mid-January now.